Note 6. Reinsurance

In accordance with general practice in the insurance industry, portions of the life, property and casualty insurance written by the Company are reinsured; however, the Company remains liable with respect to reinsurance ceded should any reinsurer be unable or unwilling to meet its obligations. Approximately 96% of the Company’s reinsurance recoverables were due from a single reinsurer as of December 31, 2018. Reinsurance recoverables of $24,983 were due from General Re Life Corporation, rated “AA+” by Standard & Poor’s and “A++” (Superior) by A.M. Best. Allowances for uncollectible amounts are established against reinsurance recoverables, if appropriate.

The effects of reinsurance on premiums written, premiums earned and insurance benefits and losses incurred were as follows:

	2018			2017
Direct premiums written	$	220,415		$	181,568
Assumed premiums written		20,093			19,373
Ceded premiums written		(66,845	)		(38,019	)
Net premiums written	$	173,663		$	162,922

Direct premiums earned	$	219,785		$	181,458
Assumed premiums earned		19,680			19,241
Ceded premiums earned		(66,534	)		(37,372	)
Net premiums earned	$	172,931		$	163,327

Provision for benefits and losses incurred	$	188,275		$	147,444
Reinsurance loss recoveries		(55,625	)		(29,929	)
Insurance benefits and losses incurred	$	132,650		$	117,515

Components of reinsurance receivables at December 31, 2018 and 2017 were as follows:

	2018		2017
Recoverable on unpaid losses	$	14,354	$	11,968
Recoverable on unpaid benefits		9,355		4,403
Recoverable on paid losses		992		-
Ceded unearned premiums		1,185		874
Ceded advanced premiums		224		368
Total reinsurance receivables	$	26,110	$	17,613